Wednesday, October 27, 2010

Smart, just like me

I like being right. Hell, we all like being right. We like it even better when people who are smarter than us tell us we are right.

Back on the 15th I had a post that mentioned how wrong Sen. Russ Feingold is on his position of not allowing personal social security accounts. I pointed out how these account gave YOU the choice of opting in and allowed YOU to have quite a bit more at retirement. Basically Sen. Feingold wants the government to control your money so it can keep raiding social security for its own use other than providing retirement funds in the future.

Today there is an article in the Wall Street Journal (hope the link isn't behind a pay wall) saying the same thing. My numbers match pretty damn close to theirs. Plus they point out the fact that many people that are joining the job force today may have a negative return by the time they collect.

So let me put it a different way. Only a moron would not participate in such a program. It is just like overpaying your taxes. Why give the government free use of your money?